Ch 9 Text/Questions Flashcards
How do enterprise systems help organizations achieve operational excellence?
Enforce standard practices and data
Helps firms respond rapidly to customer requests
Integrates data throughout the company
Provide valuable information for improving decision making
Allow senior management to find out at any moment how a particular organizational unit is performing
What are the benefits of having a standardized business process?
Save time and increase output
Provide a consistent service
Reduce errors and oversights
Increase accountability
Understand and master performance
What is a Customer Relationship Management System (CRM)?
Information systems that tracks interactions with its customers
Analyzes the interactions to optimize revenue, profitability, customer satisfaction, and customer retention
What is a touchpoint?
A method of interaction with the customer
What are the capabilities of a Customer Relationship Management System (CRM)?
Increased customer satisfaction
Reduced direct-marketing costs
More effective marketing
Lower costs for customer acquisition and retention
Increase sales revenue
Customer churn is reduced
What does churn rate mean?
Measures the number of customers who stop using or purchasing products or services from a company
What is a Supply Chain Management System (SCM)?
Manage the flow of products through distribution centers and warehouses to ensure that products are delivered to the right location in the most efficient manner
What are the capabilities of a Supply Chain Management System(SCM)?
Reduce supply chain costs
Enables the working of business to be driven more by customer demand
Reduce inventory levels
Improve delivery service
Speed product time to market
What are some reports that could come out of a Customer Management Relationship system (CRM) for a bank?
